...March 26, 2020 NEW YORK (S&P Global Ratings) March 26, 2020--S&P Global Ratings today assigned its '###' issue-level rating to pharmacy and health services provider CVS Health Corp.'s proposed senior unsecured notes. We expect the company to use the proceeds from these notes for general corporate purposes, including to repay debt and shore up its balance sheet cash amid the coronavirus pandemic. We believe CVS Health is better positioned than companies in most other retail subsectors because of the relatively nondiscretionary nature of its services and products. We expect the company' overall operating results to remain solid over the near-term given its role as an essential retailer under government guidelines. Therefore, we believe sales and profit growth in the pharmacy services and retailsegments will remain solid as customers stock up on purchases of essential items, including prescription drugs and household items. However, we anticipate modest, but manageable, cost pressure in the...
